RE:Bombardier buys back 880,000 Class A sharesThose are Class B
MONTRAL, April 27, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Bombardier Inc. (TSX: BBD.B) (“Bombardier” or the “Corporation”) has approved the start of a new normal course issuer bid for its Class B shares (subordinate voting) (the “NCIB”), subject to receiving approval of the Toronto Stock Exchange (the “TSX”) and any other regulatory requirements. The Corporation is currently targeting to implement the new NCIB in May 2023.
On June 23, 2022, Bombardier announced a normal course issuer bid that commenced on June 28, 2022 for a 12-month period (the “2022 NCIB”), pursuant to which it has purchased the maximum 880,000 Class B shares (subordinate voting) allowed under the 2022 NCIB, which shares were either cancelled to mitigate the dilutive effect of granting stock options under the Corporation’s stock option plan, which are settled with Class B shares (subordinate voting), or were placed in trust with Computershare Trust Company of Canada (“Computershare Canada”) and were used, or will be used, to settle the Corporation’s obligations under its employee share-based incentive plans, including its performance share unit plan and its restricted share unit plan.